iShares MSCI UAE ETF (NASDAQ:UAE) Sees Large Increase in Short Interest

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 549,400 shares, a growth of 44.6% from the February 28th total of 380,000 shares. Approximately 12.1% of the shares of the stock are sold short. Based on an average daily volume of 166,100 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Trading of iShares MSCI UAE ETF

Hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in iShares MSCI UAE ETF in the 4th quarter worth approximately $3,409,000. Bank of America Corp DE grew its stake in shares of iShares MSCI UAE ETF by 2,696.8% in the 4th quarter. Bank of America Corp DE now owns 173,401 shares of the company’s stock worth $2,854,000 after buying an additional 167,201 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of iShares MSCI UAE ETF in the 4th quarter worth about $1,804,000. Wellington Management Group LLP raised its position in shares of iShares MSCI UAE ETF by 94.3% during the 4th quarter. Wellington Management Group LLP now owns 136,210 shares of the company’s stock valued at $2,242,000 after buying an additional 66,105 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of iShares MSCI UAE ETF in the 4th quarter valued at about $780,000.

iShares MSCI UAE ETF Price Performance

iShares MSCI UAE ETF stock opened at $16.97 on Tuesday. iShares MSCI UAE ETF has a 1 year low of $13.25 and a 1 year high of $17.69. The firm’s 50 day moving average price is $17.18 and its 200-day moving average price is $16.14. The stock has a market cap of $107.76 million, a P/E ratio of 9.78 and a beta of 0.61.

iShares MSCI UAE ETF Company Profile

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.